T1 Energy (NYSE:TE) Shares Down 7.6% – What’s Next?

T1 Energy Inc (NYSE:TE)’s share price dropped 7.6% during mid-day trading on Friday . The company traded as low as $7.15 and last traded at $7.1220. Approximately 4,512,717 shares changed hands during trading, a decline of 76% from the average daily volume of 19,171,570 shares. The stock had previously closed at $7.71.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Johnson Rice raised shares of T1 Energy to a “strong-buy” rating in a research report on Tuesday, December 2nd. Zacks Research upgraded shares of T1 Energy to a “hold” rating in a research report on Tuesday, November 25th. Roth Mkm reaffirmed a “buy” rating on shares of T1 Energy in a report on Tuesday, December 23rd. Alliance Global Partners reiterated a “buy” rating on shares of T1 Energy in a research report on Tuesday, December 30th. Finally, Needham & Company LLC reiterated a “buy” rating on shares of T1 Energy in a research note on Thursday, December 11th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $7.50.

T1 Energy Stock Performance

The business has a 50-day simple moving average of $7.47 and a 200 day simple moving average of $5.26. The company has a debt-to-equity ratio of 5.87, a current ratio of 1.13 and a quick ratio of 0.72. The firm has a market cap of $1.39 billion, a PE ratio of -1.73 and a beta of 1.66.

Hedge Funds Weigh In On T1 Energy

Several large investors have recently added to or reduced their stakes in the company. Hsbc Holdings PLC bought a new position in shares of T1 Energy in the fourth quarter worth approximately $109,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of T1 Energy during the 4th quarter valued at $2,007,000. Invesco Ltd. bought a new stake in shares of T1 Energy during the 4th quarter valued at $17,405,000. Creek Drive Management Group LLC purchased a new position in shares of T1 Energy during the 4th quarter valued at $788,000. Finally, Empowered Funds LLC purchased a new position in shares of T1 Energy during the 4th quarter valued at $3,830,000. Hedge funds and other institutional investors own 52.31% of the company’s stock.

About T1 Energy

T1 Energy Inc is an energy solutions provider building an integrated supply chain for solar and batteries. T1 Energy Inc , formerly known as FREYR Battery, is based in NEW YORK.